Rollins Announces Pricing Of Secondary Public Offering Of Its Common Stock By LOR

(RTTNews) - Rollins, Inc. (ROL) announced the pricing of a secondary public offering of 38,724,100 shares of its common stock by LOR, Inc., one of the company's existing stockholders, at a price to the public of $35.00 per share. The offering is expected to close on September 11, 2023. The company noted that the underwriters will have a 30-day option to purchase up to an additional 5,785,714 shares of common stock from the selling stockholder.

Subject to the closing of the offering, Rollins has agreed to repurchase 8,724,100 of the shares of common stock being offered in the offering for approximately $300 million at the same per share price to be paid by the underwriters to the selling stockholder in the offering.